US coffee futures posted a modest gain on Tuesday, although bullish speculators lacked the muscle to drive prices outside the top of a one-week trading range, market sources said.
The New York Board of Trade's benchmark arabica contract for May delivery rose 1.25 cent to settle at $1.0695 per lb, after trading from $1.0615 to $1.0820 - inside a seven-day trading range of $1.0440 to $1.0980. Among other coffee futures, the NYBOT's July delivery advanced 1.25 cent to end at $1.0965 a lb and the rest of the curve gained 1.25 to 1.95 cents.
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